Thursday, June 21, 2012

Another Hedge Fund Titan Faces SEC Scrutiny on Insider Trading

Steven A. Cohen, the billionaire founder of hedge fund SAC
Capital Advisors LP, is facing renewed scrutiny from U.S. regulators over
whether he illegally bought and sold stocks using inside information, two people
familiar with the matter told Bloomberg people.

Cohen, 56, was recently deposed by Securities and Exchange
Commission investigators in New York about trades made close to news such as
mergers and earnings that generated profits for his fund, said one of the
people, who asked not to be identified because the investigation isn’t public.
Neither Cohen nor Stamford, Connecticut-based SAC Capital, which oversees about
$14 billion, has been accused of wrongdoing....

About Me

Faster than a speeding bullet! More powerful than a locomotive! Able to leap tall buildings in a single bound! ("Look! Up in the sky!" "OMG it's a bird!" "It's a plane!" "It's Redbone!")... Yes, Holden D. Redbone ... strange visitor from another planet, who came to Earth with powers and abilities far beyond those of mortal men! Redbone ... who can change the course of mighty rivers, bend steel in his bare hands, and who, disguised as a mild-mannered editor for a great international financial e-newsletter (subscription only), fights a never-ending battle for truth, justice, and the American way!